In order to become a licensed Mortgage Loan Originator in the state of Arizona you’ll need to complete the following steps:
All 50 states, including Arizona, process MLO licensing requests through the NMLS system. The process of creating an account is easy and takes only a few minutes.
- Request an NMLS account by going to the NMLS online registration portal.
- Select the Individual option
- If prompted, complete the security captcha and click next
- Provide the required information and submit your application
Complete Your Arizona NMLS Pre-License Education
The necessary 20-hour NMLS S course must be completed in order to obtain an Arizona MLO license. A. F. E-pre-licensing course, which consists of four hours of instruction on Arizona law in addition to any additional coursework mandated by the Arizona Department of Financial Institutions (DFI), the state licensing body for Arizona
Learn more about the AZ DFI here.
NMLS SAFE Mortgage License Training – Required
Twenty hours of mortgage education from a mortgage school approved by the NMLS are required in all states. Make sure you complete the 20-hour SAFE course in addition to the state-specific education requirements if you’re applying for a new mortgage license.
Pass the NMLS Mortgage licensing exam
You must use your NMLS account to make an appointment to take The National Test Component or The National Test Component with Uniform State Content after completing your pre-license coursework. Furthermore, you will need to pass any further exams that the AZ DFI requires.
Similar Article: NMLS Mortgage Loan Officer Exam: How to Take It
SAFE MLO National Test Component
Federal mortgage-related laws, ethics, mortgage loan originator activities, and general mortgage knowledge are all covered in the SAFE MLO exam. Effective 4/5/21, test details are as follows:
The UST portion of the exam covers:
- Regulatory authority, responsibilities and limitations
- Definitions and documents
- License law and regulation
- Compliance
Arizona Department of Financial Institutions
In Arizona, a pre-license must fulfill one of the following three requirements and include at least 20 hours of education:
- achieving passing scores on the SAFE Test’s national and Arizona state components, or
- achieving passing scores on the SAFE Test’s National and Stand-alone UST components, or
- achieving passing status on the Uniform State Content National Test Component
Apply for your NMLS license
After completing the necessary pre-licensing courses and passing the national exam as well as any state-mandated exams, you can apply on the NMLS website to become a mortgage loan originator.
To apply for your Arizona MLO license:
- Login in to your NMLS account.
- Select the filing tab on the top of the screen.
- Select Individual if your applying as an individual.
- Click Request New/Update.
- Click Continue if you are directly in charge of paying the filing fees.
- If you currently work for a mortgage company, this step might be taken care of by your employer. These fees are not refundable. Check with your employer before you proceed.
- Click Add to apply for your AZ license.
- Select the appropriate Arizona License and click Next.
- Select the Arizona Mortgage Loan Originator License and click Next.
- Verify that the information is correct and click Next.
- Read the final page carefully before proceeding. If the information is correct click Finish.
Background Checks, Credit Check, and Fees
The SAFE act established licensing and registration standards for all Mortgage Loan Originators. In order to receive your Arizona MLO certification, youll need to provide the following information and pay the associated fees:
| Request | Fee | Required |
|---|---|---|
| NMLS Processing | $30 | YES |
| FBI CBC | $36.25 | YES |
| Credit Report | $15 | YES |
| AZ Application | $350 | YES |
*Note: Your license/registration fee is not included in this non-refundable application fee. Following the approval of your license application, NMLS will send you an invoice for the license fee. This fee must be paid through NMLS. Within 72 hours of DFI receiving your payment, your license will be issued. See chart below for pricing.
| Month License is Issued | Licensing Fee |
|---|---|
| Jan/Feb/Mar | $150 |
| Apr/May/Jun | $112.50 |
| Jul/Aug/Sep | $75 |
| Oct/Nov/Dec | $37.50 |
Create a Fieldprint account and register for an appointment.
Initiate a criminal background check through your NMLS account.
Authorize a credit report via your NMLS account.
Your NMLS ID must be sponsored by a state-licensed employer in order to fulfill the last requirement and become a fully licensed Arizona MLO. AZ offers an “Approved-Inactive” license status. This implies that the license may not be granted until sponsorship by a mortgage company is obtained if you are not currently employed by a mortgage company or if your employer has not requested sponsorship on your behalf.
This sponsorship notifies the regulatory bodies that your employer will be managing your specific license. You can submit your sponsorship through your NMLS ID. Once your NMLS ID and employer sponsorship are linked, you will be able to conduct business in Arizona as an MLO.
Your success is our #1 priority
Aspiring mortgage loan originators and seasoned mortgage loan officers can advance their learning through OnCourse Learning. Get and maintain your NMLS license with:
- NMLS-approved mortgage pre-licensing, continuing education and late CE courses
- Resources to help you prepare for and pass the NMLS licensing exam
- Over 50 years of mortgage education experience
- We have aided more than 300,000 mortgage brokers in starting and growing their businesses.
“This was well organized, wonderfully set up to give you ample opportunities to practice the information given through exams, quizzes, discussion scenarios, and message board.”
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FAQ
How long does it take to become a loan officer in Arizona?
The necessary 20-hour NMLS S course must be completed in order to become an MLO licensed in Arizona. A. F. E-pre-licensing course, which consists of four hours of instruction on Arizona law in addition to any additional coursework mandated by the Arizona Department of Financial Institutions (DFI), the state licensing body for Arizona
How much does a mortgage loan officer make in Arizona?
|
|
Annual Salary
|
Hourly Wage
|
|
Top Earners
|
$116,951
|
$56
|
|
75th Percentile
|
$93,200
|
$45
|
|
Average
|
$67,884
|
$33
|
|
25th Percentile
|
$48,500
|
$23
|
Can you be a realtor and loan officer in Arizona?
The short answer to the question of whether it’s possible to work as a real estate agent in addition to a mortgage loan officer or broker is that it is.
Read More :
https://www.oncourselearning.com/mortgage/arizona/mlo-career-guide
https://www.morty.com/resources/loan-officers/becoming-a-loan-officer-in-arizona